Since 1960, The U.S. Department of Agriculture has attempted to figure out how much it costs to raise a child. Its no surprise, reports The Wall Street Journal's Lam Thuy Vo, that costs have risen over the years.
In general, the cost of child care alone, when adjusted for inflation, has climbed nearly twice as fast as overall prices since the recession ended in 2009.
While parents still spend about a third of their income on shelter, other costs have changed over the years.
We spend much less on basic items. Food, clothes, personal care items such as toothbrushes and shampoo, and even toys and sports gear have all decreased in price due to technological strides in manufacturing and agriculture, and because so much of these goods’ production has been sent overseas.